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Fold Holdings, Inc., the first publicly traded bitcoin financial services company, has entered a four-year, senior secured revolving credit facility with Encina Lender Finance, LLC.
The facility carries an uncommitted accordion feature capping the maximum size at $150 million and is secured by a pool of consumer credit card receivables.
The deal gives Fold a dedicated funding source to grow its Bitcoin Credit Card program without issuing new equity — a structure that avoids diluting existing shareholders. CEO and Co-Founder Will Reeves said the capital will allow the company to “meaningfully expand the distribution of the Fold Credit Card” as it works toward becoming…
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